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Updated almost 9 years ago on . Most recent reply

User Stats

56
Posts
36
Votes
Ken Powell
  • Lender
  • Maryland
36
Votes |
56
Posts

Funding Documents before looking for real estate

Ken Powell
  • Lender
  • Maryland
Posted

If you are planning on buying real estate in Virginia Beach area I highly recommend getting a pre-approval letter or proof of cash (POF) from at least two different lending institutions before you start looking for properties. If you budget is $100K. Get a pre-approval for 50K and another for $100k that way you can make offers as soon as you find a property you like. Some properties require POF before you can view the property. Waiting to get funding documents after you find a good property can be costly.

Ken 

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